Scheme to aid small transporters
State-owned Bharat Petroleum Corporation Limited (BPCL) has roped in Shriram Transport Finance Company (STFC) to fund truckers for diesel purchase under its “Fuel now, pay later” scheme.
Confirming the development, P. S. Ravi, ED, retail, BPCL, said, “Small transporters, due to their lesser financial capabilities, were in look out for high quality fuelling, associated services and financial solutions to build their business and growth. In arrangement with Shriram Transport, they will get money and there is no need to carry cash. This partnership addresses the need for fuelling. BPCL has the highest market share in the top 20 national highways.”
This scheme is aimed at targeting small truck owners with less than 10 trucks, constituting about 75% of the diesel sales.
Umesh Revankar, MD & CEO, SFTC, said, “After you buy a vehicle, you need to spend on tyres and fuel. We already have tyre financing and now we will also finance fuel purchases of truckers.”
The customers will be able to avail the benefit of this tie-up across 15,000 BPCL retail outlets across the country.
Santosh Kumar, ED, retail-west, BPCL said, “About 40% cost of transport business is the diesel. We will prove working capital solution through this tie up with Shriram Finance.”
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